Walls & Futures REIT PLC Unaudited interim results and development update (3860Y)
December 31 2019 - 4:30AM
UK Regulatory
TIDMWAFR
RNS Number : 3860Y
Walls & Futures REIT PLC
31 December 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
31 December 2019
WALLS & FUTURES REIT PLC
("Wall & Futures" or the "Company")
Half Year Results for the period to 30 September 2019 &
Development Update
Walls & Futures REIT plc ("WAFR") the Ethical Housing
Investor and developer, is pleased to announce its interim results
for the six months to 30th September 2019.
We are also happy to announce the completion of the
redevelopment of our Didcot property, the acquisition of which was
announced on 4 June 2019. The property has been let on a 25-year
full repairing and insuring lease, with rents adjusted annually in
line with inflation (CPI), to one of the UK's largest and longest
established care providers, who currently support more than 2,500
adults nationwide.
Consolidated Income Statement
For the Six-Month Period to 30 September 2019
6 Months to 6 Months to
30 September 30 September
2019 2018
GBP GBP
Rent received 67,650 67,041
Cost of sales - 4,826
Increase in property values - -
Gross Profit 67,650 62,215
Administrative Expenses (151,526) (131,638)
____________ ____________
OPERATING PROFIT/(LOSS) (83,876) (69,423)
Interest receivable and similar
income 218 224
Interest payable (8,542) -
____________ ____________
PROFIT/(LOSS) BEFORE TAXATION (92,200) (69,199)
Taxation - -
____________ ____________
PROFIT/(LOSS) FOR THE FINANCIAL
PERIOD (92,200) (69,199)
Consolidated Balance Sheet
30 September 2019
30 September 2019 30 September 2018
GBP GBP GBP GBP
FIXED ASSETS
Investment Property 3,730,010 3,025,000
CURRENT ASSETS
Cash at Bank 169,036 228,710
Debtors and Prepayments 6,645 5,764
------- --------
175,681 234,474
CREDITORS
Amounts falling due within
one year (6,176) (2,367)
------- --------
NET CURRENT ASSETS 169,505 232,107
--------------- -------------------
TOTAL ASSETS LESS CURRENT
LIABILITIES 3,899,515 3,257,107
Provision for Liabilities - -
Amounts falling due over (600,000) -
one year
--------------- -------------------
NET ASSETS 3,299,515 3,257,107
CAPITAL AND RESERVES
Called up share capital 187,754 180,611
Share Premium 3,505,154 3,412,297
Fair Value Reserve 297,150 168,333
Retained Earnings (690,543) (504,134)
3,299,515 3,257,107
The above figures have not been reviewed by the Company's
auditors.
The Directors of the issuer accept responsibility for the
contents of this announcement.
For further information, contact:
Walls & Futures REIT PLC 0333 700 7171
Joe McTaggart, Chief Executive
Website www.wallsandfutures.com
Allenby Capital Limited (Corporate Adviser)
Nick Harriss/James Reeve 020 3328 5656
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contact rns@lseg.com or visit www.rns.com.
END
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